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Shanghai plans to dominate the ‘grey yuan’ sector
Shanghai Municipal Government has said that in order to give full play to market forces and society, it will “vigorously develop” the pension sector to meet the diversified needs of elderly citizens. To speed this up, the city government published a plan of action to put Shanghai at the top of China’s burgeoning pension and long-term-care insurance sectors. The city will “encourage” commercial banks and influential institutions to issue special credit policies for a pension industry, to broaden the scope of loan collateral, and increase the accuracy and credit lending to enterprises for the elderly by using ... (full story)